Mortgage rates climbed in the week ending 12th November, according to Freddie Mac. COVID-19 vaccine news delivered the upside for the week.
This week's GBP/USD once rallied to 1.3300, an over two-month high, because of the progress in Brexit and the positive news about the Covid-19 vaccine.
It was a busy week for the markets. While concerns over the economic outlook lingered, progress towards a COVID-19 vaccine eased the pain.
Bidens victory and impressive COVID-19 vaccine trial results delivered another boost for the majors.
PPI rose more than expected
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On Thursday, WTI saw its rally just shy of the intraday high of $42.18 and witnessed choppy downsides before breaching below the support at $41.0 to the intraday low of $40.61, notching two consecutive days of drops.
Stocks are ready to move higher as traders ignore the virus and focus on economic recovery.
Economic data from the U.S, COVID-19, Brexit, and Capitol Hill will provide the majors with direction on the day.
Jobless claims continue to decline
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On Wednesday, the Reserve Bank of New Zealand (RBNZ) announced its rate decision for November, which held the official cash rate at 0.25%, as expected.
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The Reserve Bank of New Zealand held its official cash rate at 0.25% on Wednesday, sending the New Zealand Dollar slightly higher as negative rate bets faded.
Gold has been on a rollercoaster ride this week as it suffered a significant retracement Monday, only to begin recouping losses as the week progressed. But has the fundamental landscape changed？
Its a quiet day on the economic calendar, with no stats due out of the Eurozone or the U.S. That leaves COVID-19, Brexit, and U.S politics in focus.
Asia-Pacific shares rose on Wednesday as hopes for a successful coronavirus vaccine lifted expectations of a swift reopening of the global economy.
The price action indicates the near-term direction is being controlled by the 50% level at $1889.70 and the 61.8% level at $1842.60.
ACA likely to stand
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